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What’s the best way to wreck your retirement budget? How about unexpected medical expenses? Ask any financial planner and, he or she will likely say that most couples are not prepared for the financial disruption that could come with an expected or catastrophic illness. Twenty-eight percent of Americans said their greatest fear in retirement is…Read More »
It’s a dream that many of us have. The kids have graduated from college and settled into their new homes and new jobs. Retirement is around the corner. Now that you are empty nesters, that big house in the suburbs no longer works for you and your spouse. So, finally, it’s your chance to get…Read More »
It’s complicated, this retirement thing. It sneaks up on you, and many of us aren’t quite ready. We haven’t saved enough, didn’t plan enough or we just haven’t figured out what we will do with all that time suddenly thrust upon us. Saving for retirement is difficult enough. Many surveys show that Americans have saved…Read More »
From The Experts
A successful marriage is all about communication. So, it make sense that the same can be said about a successful retirement. Retirement planning is tough enough, but when it comes to couples some of the biggest mistakes can be related to the lack of communications, according to the financial planners surveyed for the 2015 Fidelity…
This is for the people headed towards retirement and coming up short in their savings. According to a 2016 survey , from GoBankingRates, 23% of Americans have saved less than $10,000 and a third have saved nothing for retirement. Another survey, by TIAA-CREF, says the number one regret of people approaching retirement is that they wished…
Here we are, once again, in the midst of people’s favorite holidays. Between Christmas and New Year’s, it’s time for good food, visiting friends and relatives, gifts, and of course, popping champagne. It’s also time for New Year’s resolutions (which most people forget about by February anyway). It’s the perfect time to assess your financial…
Washington, D.C. — Recent arrests in the U.S. and India should put a big dent in the one of the biggest scams affecting pre-retirees and retirees – the IRS scam. The U.S. Treasury Department says nearly two million Americans have been targeted by scammers impersonating IRS officials, with 12,000 to 13,000 people submitting complaints every…
- Healthcare and Personal Wellness
- Retirement Advice Basics
- Retirement Lifestyle
- Rodney Brooks
- Taxes and Fees
Rodney Brooks Retirement is tough enough, but it can be really tough for the people who did little or no planning. It’s tough enough even for those who do plan for retirement. After all, there is much to consider. Which means that there could be a possibility for some people to either forgot something or…
You may have seen the commercials on TV about selling your annuity for cash. This is a business format that’s about as old as annuities themselves. These companies will offer to buy a stream of future payments that your annuity provides from you in exchange for a lump sum of cash. One problem is that these transactions are usually designed to make money for the company buying your annuity, rather than ensuring you get the best value for that annuity. Selling your annuity might seem like a good idea in a pinch, but in the end, it could cost a lot more than you anticipated.
One thing that can be difficult to predict when you’re planning your retirement is how much you’ll wind up paying for healthcare once you’re retired. The good news is new treatments and lower-cost healthcare resources are created every day. The bad news is one aspect of healthcare many retirees need most tends to cost the most: prescriptions.
While you might be eligible to take benefits at age 62, some experts would recommend you don’t. That’s because the earlier you take them, the less you usually get.
Fixed-indexed annuities are rising in popularity. I’ve seen that in the financial news, and I’ve seen that firsthand with how many people contact me asking about them. The timing is a bit surprising because the stock market has been notoriously volatile for the past few months.
Some financial planners will advise you never to do this because it’s redundant, but there are times when it might be beneficial, especially when it comes to managing your required minimum distributions later on. Before you write off purchasing an annuity in an IRA, you should consider how it could impact you for the life of your IRA.